• Texas power prices soared 20,000% Wednesday evening amid another brutal heat wave.

  • Spot electricity prices topped $5,000 per megawatt-hour, up more than 200 times from Wednesday morning.

  • The state’s grid operator issued its second-highest energy emergency, then later said conditions returned to normal.

  • lolcatnip@reddthat.com
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    1 year ago

    In sane parts of the US, utility companies are technically private entities, but they’re related so much they pretty much operate like government agencies.

    • sploosh@lemmy.world
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      1 year ago

      The big difference being a drive toward profit. Nationalizing energy production and distribution would be a slam dunk for everyone except the people at the top of these energy companies and their shareholders.

      • lolcatnip@reddthat.com
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        1 year ago

        Probably. But the people who cry about socialism would be technically correct for once if that happened.

    • grue@lemmy.world
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      1 year ago

      Take a look at how the Georgia Public Service Commission is regulating the finances of the new nuclear reactors (Plant Vogtle 3 and 4) and then try to keep a straight face and tell me it’s working.